Thursday, January 11, 2007
FAKE BIDDERS
If an auction bids a car by using fake bidders to bring more money than would otherwise be bid by real bidders and hammers the car sold when it is not sold, then the market is being manipulated and wouldn't that be illegal. Ask yourself why a car that was "sold" in August in Moneterrey at the Russo and Steele no reserve acution is listed for sale at the January Scottsdale Russo and Steel auction. This is either an example of the auction house owning the car and manipulating the market or the buyer at the Moneterrey auction bought back their own car because it did not bring enough money and to appease the seller the Alcasors let them bring the same car to Scottsdale for free. Many of the same cars appear in multiple Russo and Steele auctions.
Subscribe to:
Post Comments (Atom)
2 comments:
I get into Scottsdale next Wednesday and plan on attending all of the auctions with the exception of Kruse. I mostly go mostly go for fun and rarely buy anything from an auction. This is certainly going to add a new element to the game. I’m going to be watching the bidders a lot closer at all of the auctions, particularly Russo and Steele. Maybe I’ll pull out the video camera and slap it on U TUBE for you guys that don't make it.
Jerry, take the camera's to all the auctions, including BJ since 52% of there cars are bought back by their owners. Myself being one.
Post a Comment